More Financial Resources
Your Financial Habits Today Impacts Life after College
For most students, going to college is not only the first time you are living away from your family, but it is the first time you're financially independent as well. You might take out a federal student loan that you are responsible for paying back. In addition, college is the first time you might apply for and receive credit cards in your own name.
In addition to student loan debt that many college students have, most college students have credit card debt - the average credit card debt for an undergraduate is $2,200. How a student manages their debt - both student loans and credit cards - during and after college has a major impact on their financial future.
Student loan and credit card account information is included on your credit report - a summarized report containing detailed credit history of an individual. Your credit report and credit score can have a significant impact on your life after college. How your credit report looks can impact your ability to take out a car loan, rent an apartment, or even land a job.
By managing your finances wisely during college (credit cards), and after college (student loans), you can set yourself on the right financial path.
